Heavy losses sweep world markets

Heavy losses sweep world markets

news.bbc.co.uk

The UK's main share index has closed down sharply as concern over the impact of turmoil in the US sub-prime lending market continues to haunt investors.

While US shares were falling still further in early Wall Street trading, London's FTSE 100 ended the day down 4.1% or 250 points at 5,859.

This is the FTSE's biggest one-day percentage fall since March 2003.

The falls came despite the Federal Reserve pumping an extra $17bn (£8.6bn) into the US banking system.

(visit the link for the full news article)

Oh my.
It seems like that little pump didnt work.

Are we really on the verges of another great depression?


Its chilling to look at the Market Data for today.
Ive never seen something like it,

MARKET DATA - 17:41 UK
FTSE 100 5858.9 down -250.40
Dax 7270.1 down -175.83
Cac 40 5265.5 down -177.25
Dow Jones 12625.3 down -236.15
Nasdaq 2409.1 down -49.72
S&P 500 1381.5 down -25.23
BBC Global 30 5571.4 down -77.21

There all down.

news.bbc.co.uk
(visit the link for the full news article)

[edit on 16-8-2007 by Renshin]

The thing is that the markets usually follow the usa, so you can see what i mean here.

Interesting that there input is not working, i am assuming people behind the scenes know something we do not. What that is we do not know, but the fact that the markets do not stabalise, makes everyone wonder.

to much higher loans or mortgages out there and many more... investors worry about the value of loans and rising delinquencies and defaults.

I can't believe how many people survive on credit

Originally posted by slaveearth

I can't believe how many people survive on credit

My friend we are a nation of spenders after all, consumer spending is what keeps this nation going.

But as good jobs go oversea and more low jobs are created people got into credit to keep the illusion of prosperity, but the American dreams keeps getting farther away from us regular joes.

You should read this article is very interesting.

Welcome to Richistan, USA

www.economyincrisis.org...

on the subject of credit i've just started to be able to support my family without the help of credit cards in the past couple of years. if my wife and i both worked full time at a minimum wage or even a little above, there's no way we would be able to afford a decent place to live. so yes, credit is the mother of prosperity in the US. i only use my credit cards for food and gas to show that i have a good record of paying them off. we have one card with a high limit that we use for fun stuff but it's within our means to pay it off quickly if we had to.

taken from.
www.economyincrisis.org...

Who are the Richistanians? They are CEOs who have moved their companies abroad and converted the wages they formerly paid Americans into $100 million compensation packages for themselves

That sums it up quite nicely..but will we ban the China import ??
and bring back the companies here ??

We don't have the guts for that.

Interesting conversation,
And with the other threads im seeing about stocks,
I think this is it guys.. And im not normally one to say that.

My husband lost $200,000 today alone in the stock market. I'm scared to death.

MauiStacey, sorry to hear that, but trust me is many Americans that are losing their life savings and investments also.